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I was in a car accident 4 years ago. I had gone to a settlement lender for a small amount after my income benefits were cut off. I guess I missunderstood how the interest was calculated and found out my payout today. I borrowed 2000 x 2 , 3 yrs ago and 1000.00-2 yrs ago, so total 5000.00, my payout is just shy of 15,000.00. I will pay back 200%. I am willing to negotiate but feel I was being taken advantage of. I was so stressed, in constant pain , lack of sleep, frustrated that I clearly was not thinking clear. Is there anything I can do about this. I was maybe thinking of trying to settle with them for 10,000.00. Are my hands tied?

Any advice would help.

Thank you

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    This sounds like a legal question. You should probably consult a lawyer or legal aid if you qualify for that. – txwikinger Aug 04 '10 at 18:43

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No, your hands are not tied. You need to talk to a lawyer first. You also need all the documentation available to you for the loan contracts you signed.

You just have to decide now how much you are willing to spend on a lawyer along with the probability that you will succeed in reducing your payback.

Michael Pryor
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